Jamf (NASDAQ:JAMF) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Jamf (NASDAQ:JAMF) posted its earnings results on Wednesday. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.10 by $0.04, Briefing.com reports. Jamf had a negative net margin of 19.64% and a negative return on equity of 6.12%. The firm had revenue of $152.12 million during the quarter, compared to analysts’ expectations of $149.21 million. During the same period last year, the company posted ($0.08) EPS. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. Jamf updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

Jamf Stock Performance

NASDAQ JAMF traded up $0.24 during trading hours on Thursday, hitting $19.95. 738,399 shares of the company’s stock traded hands, compared to its average volume of 421,849. The business’s fifty day moving average price is $18.45 and its two-hundred day moving average price is $18.17. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $2.56 billion, a P/E ratio of -22.15 and a beta of 0.47. Jamf has a 52 week low of $14.83 and a 52 week high of $22.89.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Royal Bank of Canada lifted their price target on shares of Jamf from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and set a $25.00 price target on shares of Jamf in a research report on Thursday. Canaccord Genuity Group lifted their target price on shares of Jamf from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday. Mizuho lifted their target price on shares of Jamf from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Barclays lifted their target price on shares of Jamf from $18.00 to $20.00 and gave the stock an “equal weight” rating in a report on Thursday, March 14th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Jamf presently has an average rating of “Moderate Buy” and an average price target of $24.14.

Insider Activity at Jamf

In other Jamf news, Director Dean Hager sold 73,730 shares of Jamf stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $17.76, for a total transaction of $1,309,444.80. Following the transaction, the director now owns 385,665 shares of the company’s stock, valued at $6,849,410.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Dean Hager sold 73,730 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $17.76, for a total transaction of $1,309,444.80. Following the sale, the director now owns 385,665 shares of the company’s stock, valued at $6,849,410.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jason Wudi sold 33,830 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $17.89, for a total transaction of $605,218.70. Following the transaction, the insider now owns 378,276 shares in the company, valued at approximately $6,767,357.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 239,323 shares of company stock worth $4,393,336. 2.30% of the stock is owned by company insiders.

About Jamf

Jamf Holding Corp. offers a cloud software platform for Apple infrastructure and security platform in the Americas, Europe, the Middle East, India, and Africa. Its products include Jamf Pro, an Apple ecosystem management software solution for IT environments; Jamf Now, a pay-as-you-go Apple device management software solution for small-to-medium-sized businesses; Jamf School, an apple mobile device management for schools; and Jamf Connect, a ZTNA solution that replaces legacy conditional access and VPN technology.